Voya Investment Management LLC Lowers Position in Devon Energy Co. (NYSE:DVN)

Voya Investment Management LLC decreased its position in Devon Energy Co. (NYSE:DVN - Free Report) by 30.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,473,529 shares of the energy company's stock after selling 1,072,517 shares during the quarter. Voya Investment Management LLC owned about 0.38% of Devon Energy worth $80,959,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock valued at $2,640,727,000 after buying an additional 5,465,692 shares during the period. Geode Capital Management LLC increased its position in Devon Energy by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock worth $552,830,000 after acquiring an additional 1,038,305 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Devon Energy by 42.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock worth $340,236,000 after acquiring an additional 3,114,656 shares during the period. Victory Capital Management Inc. increased its holdings in Devon Energy by 2.3% in the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock valued at $333,971,000 after buying an additional 232,469 shares during the period. Finally, Invesco Ltd. lifted its position in Devon Energy by 32.8% during the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after buying an additional 2,335,473 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of research reports. Morgan Stanley set a $47.00 target price on shares of Devon Energy and gave the company an "overweight" rating in a research report on Wednesday, March 26th. StockNews.com raised Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Sanford C. Bernstein raised Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target for the company in a research note on Wednesday, January 15th. Citigroup dropped their target price on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Finally, Piper Sandler reduced their price target on shares of Devon Energy from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Devon Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.83.

Devon Energy Price Performance

NYSE:DVN traded up $0.20 during trading hours on Monday, hitting $31.55. The stock had a trading volume of 5,043,313 shares, compared to its average volume of 8,510,674. Devon Energy Co. has a one year low of $25.89 and a one year high of $53.20. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The firm has a market capitalization of $20.48 billion, a price-to-earnings ratio of 6.92, a P/E/G ratio of 1.20 and a beta of 1.50. The company has a 50 day simple moving average of $33.56 and a two-hundred day simple moving average of $35.36.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. The company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Research analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.24 dividend. This is a boost from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.04%. Devon Energy's payout ratio is presently 21.05%.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.